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What is the difference between the simple interest on a principal of Rs. 500 being calculated at 5% per annum for 3 years and 4% per annum for 4 years?
- a)Rs. 5
- b)Rs. 10
- c)Rs. 20
- d)Rs. 40
Correct answer is option 'A'. Can you explain this answer?
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What is the difference between the simple interest on a principal of ...
Calculation of Simple Interest
Principal (P) = Rs. 500
For the first case, rate of interest (R) = 5% per annum, time (T) = 3 years
For the second case, rate of interest (R) = 4% per annum, time (T) = 4 years
Case 1: Simple Interest at 5% per annum for 3 years
Simple Interest (SI) = (P x R x T)/100
SI = (500 x 5 x 3)/100 = Rs. 75
Case 2: Simple Interest at 4% per annum for 4 years
Simple Interest (SI) = (P x R x T)/100
SI = (500 x 4 x 4)/100 = Rs. 80
Difference in Simple Interest = SI2 - SI1 = Rs. 80 - Rs. 75 = Rs. 5
Therefore, the difference in simple interest between the two cases is Rs. 5.
Explanation
The formula to calculate simple interest is SI = (P x R x T)/100, where P is the principal, R is the rate of interest and T is the time period for which the interest is being calculated. In the first case, the principal is Rs. 500, the rate of interest is 5% per annum and the time period is 3 years. Therefore, the simple interest is (500 x 5 x 3)/100 = Rs. 75. In the second case, the principal is the same, but the rate of interest is 4% per annum and the time period is 4 years. Therefore, the simple interest is (500 x 4 x 4)/100 = Rs. 80. The difference in simple interest between the two cases is Rs. 80 - Rs. 75 = Rs. 5.
Principal (P) = Rs. 500
For the first case, rate of interest (R) = 5% per annum, time (T) = 3 years
For the second case, rate of interest (R) = 4% per annum, time (T) = 4 years
Case 1: Simple Interest at 5% per annum for 3 years
Simple Interest (SI) = (P x R x T)/100
SI = (500 x 5 x 3)/100 = Rs. 75
Case 2: Simple Interest at 4% per annum for 4 years
Simple Interest (SI) = (P x R x T)/100
SI = (500 x 4 x 4)/100 = Rs. 80
Difference in Simple Interest = SI2 - SI1 = Rs. 80 - Rs. 75 = Rs. 5
Therefore, the difference in simple interest between the two cases is Rs. 5.
Explanation
The formula to calculate simple interest is SI = (P x R x T)/100, where P is the principal, R is the rate of interest and T is the time period for which the interest is being calculated. In the first case, the principal is Rs. 500, the rate of interest is 5% per annum and the time period is 3 years. Therefore, the simple interest is (500 x 5 x 3)/100 = Rs. 75. In the second case, the principal is the same, but the rate of interest is 4% per annum and the time period is 4 years. Therefore, the simple interest is (500 x 4 x 4)/100 = Rs. 80. The difference in simple interest between the two cases is Rs. 80 - Rs. 75 = Rs. 5.
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Community Answer
What is the difference between the simple interest on a principal of ...
P = Rs. 500, R1 = 5%, R2 = 4%, T1 = 3 years, T2 = 4 years
Difference = PR1T1/100 - PR2T2/100 = Rs. 5.
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What is the difference between the simple interest on a principal of Rs. 500 being calculated at 5% per annum for 3 years and 4% per annum for 4 years?a)Rs. 5b)Rs. 10c)Rs. 20d)Rs. 40Correct answer is option 'A'. Can you explain this answer?
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